The next Labour Government will put rail passengers first by putting the brakes on rapidly increasing rail fares and saving commuters £1,014 on their season tickets.
Under a Labour Government, passengers will on average save £1,014 on their rail season tickets over the next parliament, compared to the potential cost under a Tory Government.
Since 2010, regulated rail fares have risen by 27.1 per cent, increasing the average cost of a season ticket by £594.
The 2015 Conservative manifesto included a commitment to keeping rail fares frozen in real terms. However, regulated fares were capped at the Retail Price Index (RPI), which consistently over-estimates inflation, rather than the Consumer Price Index (CPI).
Labour will cap regulated fair rises at the Consumer Price Index (CPI), using the money saved through bringing rail franchises back into public ownership. As more services come into public ownership, greater amounts of savings become available, and Labour will aim to introduce further fare caps or reductions.
Stephen Morgan, Labour’s candidate for Portsmouth South, talked to rail commuters outside Fratton Station this morning. He said:
“Under the Tories, rail fares have sky-rocketed and tickets are some of the most expensive in Europe. I know this firsthand as a rail commuter myself.
Labour will take Britain’s railways back into public control and put more money into people’s pockets by capping fares.
This will save commuters £1,014 on their rail season tickets over the next Parliament, as part of our plan to promote services in our great city for the many, not the few.”
Under the Conservatives, fares have risen three times faster than wages, passenger satisfaction is plummeting, punctuality has fallen to a 10 year low and promised upgrades have either been delayed by years or scrapped altogether.
The 2017 Tory manifesto has failed to make any commitment to keeping rail fares frozen in real terms, meaning rail fares are likely to rise above inflation (RPI) if the Conservatives win the General Election.
Between 2011 – 2013 the Tories allowed fares to rise by RPI plus 1 per cent. If fares continue to increase by the same rate, the average cost of a season ticket will rise by an extra £160 by the end of the next parliament, compared to being frozen at RPI.